(Alliance News) - Europa Metals Ltd on Friday said a study has shown mining activity at the Toral project in Spain would be unlikely to harm a nearby river.
Europa has been looking at water conditions in the surrounding area, and has installed eight piezometers to gather further data.
There is unlikely to be a "detectable influence" on the Sil river, which is in the "immediate vicinity" of the Toral mine, a multi-commodity asset in Spain's Leon province.
"Assessing water conditions is a crucial component of any mine development proposition. The monitoring of local water conditions from the newly installed piezometers will enable us to model and understand the existing local hydrogeological conditions to thereby ensure that the correct mine development decisions are undertaken for Toral, with reference to the project location," said Europa Executive Director Laurance Read.
The results from the initial conceptual hydrogeological study on the Toral project are positive, outlining a water management scenario that falls well within acceptable boundaries for mine development in terms of economic viability and environmental management."
"Additional work will need to be undertaken in order to test the conceptual study’s findings, but the initial results indicate that Toral should have limited impact on the local water conditions and that it does not suffer from any significant water issues that could impact on the future economic development of the project," Read added.
Shares were 11% lower in London on Friday at 0.017 pence each. In Johannesburg, they were untraded, last seen at ZAR0.01.
By George Collard; georgecollard@alliancenews.com
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Europa Metals (EUZ)